Question

a readymade garment dealer purchased 300 shirts @500 and sold 225 shirt@600 what is the total profit and what is the profit percentage

Answer 1

The total profit and the profit percentage is $22,500 and 20% respectively.

Explanation:

Given that

Number of shirts purchased = 300 shirts

Purchase price = $500

Number of shirts sold = 225 shirts

Sale price = $600

Now while computing the total profit we have to take the same quantity of shirts i.e 225 shirts

So, total purchase cost is

= 225 shirts × $500

= $112,500          

And, the total sales cost is

= 225 shirts × $600

= $135,000

So, the total profit is

= $135,000 - $112,500

= $22,500

Now the profit percentage is

= Total profit ÷ Total cost

= $22,500 ÷ $112,500

= 20%

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